Mortgage Rates Notch Down For Third Consecutive Week – NMP
Analysis and Data

Mortgage Rates Notch Down For Third Consecutive Week

052925-Aaron G. Marsh
Associate Editor
Dec 12, 2024

Freddie Mac analysis finds 30-year fixed rate mortgage dips to 6.60%.

The national average 30-year-fixed mortgage rate dropped for the third consecutive week, according to Freddie Mac’s latest Primary Mortgage Market Survey (PMMS). The 30-year fixed-rate mortgage averaged 6.60% as of Dec. 12, down from 6.69% the week prior. 

Meanwhile, the 15-year-fixed mortgage rate averaged 5.84%, down from 5.96% a week ago. 

Freddie Mac PMMS Dec. 12, 2024 Chart

 

Homebuyer demand has increased due to a positive combination of continued mortgage rate declines, consumer income growth, and a bullish stock market, noted Sam Khater, Freddie Mac’s chief economist. But he added that challenges persist. 

“While the outlook for the housing market is improving, the improvement is limited given that homebuyers continue to face stiff affordability headwinds,” Khater stated in a release.

mortgage rates
PMMS
Freddie Mac
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052925-Aaron G. Marsh
Associate Editor
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Dec 12, 2024
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